Correlation between USDJPY and S&P500 | 19 November 2021
19 November 2021, USD/JPY
USDJPY trading plan:
The S&P500 and Nasdaq notched record closing highs. Nvidia's stock jumped and was among the biggest supports for the S&P 500 and Nasdaq after it beat quarterly estimates and forecast strong fourth-quarter revenue. U.S. Treasury Secretary Janet Yellen said a combination of estimates done by the Congressional Budget Office, the Joint Committee on Taxation, and Treasury showed that a $1.75 trillion social and climate spending bill would be "fully paid for." This is a positive signal for the US stock market and USDJPY, as assets are correlated.
Investment idea: Buy 114.19 and take profit 114.97.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
